Skip to Main Content

BankPurely Review 2024

Updated January 23, 2024
Bankrate logo

The Bankrate promise

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .

At a glance

4.5
Rating: 4.5 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 4.3 stars out of 5

Checking

Rating: 4.5 stars out of 5

Savings

Rating: 3.9 stars out of 5

MMA

Rating: 4.6 stars out of 5

About Bankrate Score

Overview

Consumers looking for a bank that supports environmental initiatives may find BankPurely a good choice. It offers a range of deposit products, many with competitive APYs and none featuring monthly maintenance fees.

Highlights

  • Free Checking
  • High APY
Sponsored offers
Info

These are sponsored offers rated highly by us for competitive rates, fees, and minimums.

Bank logo
Member FDIC
Savings Account
4.25
%
APY
APY
Info
As of 5/28/2024
Rating: 4.4 stars out of 5
$1
Min. balance for APY
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC
Savings Account
4.35
%
APY
APY
Info
As of 5/28/2024
Rating: 4.9 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC
CD
5.10
%
APY
APY
Info
As of 5/28/2024
Rating: 4.9 stars out of 5
$500
Minimum deposit
View offer Arrow Right
Promoted offer:

Overall

BankPurely is a financial institution created for environmentally conscious consumers offering a large range of deposit products, including a savings, checking and money market account along with two standard CDs.

Pros

  • Checkmark

    BankPurely provides an eco-friendly banking option for environmentally conscious consumers.

  • Checkmark

    All deposit products pay APYs above the national average or better.

  • Checkmark

    Account holders have free access to thousands of ATMs.

  • Checkmark

    Digital banking features are available, including access to Zelle and Bill Pay.

Cons

  • Only one CD term is offered.

  • A steep $25,000 deposit is needed to open the money market account and earn interest.

  • The savings and money market accounts are limited to six withdrawals per month.

  • There’s a $1,500 point-of-sale transaction limit for the checking account.

CTA We want to know what you think about BankPurely

We want to know what you think about BankPurely

Do you have experience with BankPurely? Let us know your thoughts.

BankPurely banking products

3.9
/5
Rating: 3.9 stars out of 5
See methodology Compare savings rates
SCORE BREAKDOWN
APY offering:
1.50%
Rating: 3 stars out of 5
3/5
Info
Minimum balance to earn interest:
$100.00
Rating: 4 stars out of 5
4/5
Info
Monthly service fee:
$0.00
Rating: 5 stars out of 5
5/5
Info
Minimum balance to avoid fee:
$0.00
Rating: 5 stars out of 5
5/5
Info
Access to funds:
Great
Rating: 5 stars out of 5
5/5
Info
FEATURES
Invest Rate
1.50% APY
Info
Loan
$100 minimum deposit to open

BankPurely savings overview

BankPurely’s SavingsPurely savings account pays an APY that’s above the national average, though consumers searching for more competitive yields can easily find higher rates elsewhere. The account requires only $100 to open, and it doesn’t charge a monthly fee.

Pros

  • Checkmark

    BankPurely’s savings account requires only $100 to open.

  • Checkmark

    There’s no monthly service fee.

Cons

  • The APY is above the national average, but you can find higher yields elsewhere.

  • Withdrawals are limited to six per month.

  • See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

    BankPurely
    APY
    APY
    Info
    National average APY
    How do we get this data?
    Info
Compare Offer
Sponsored Offer
Info

This is a sponsored offer rated 4 stars or higher for competitive rate, fees, and minimums.

Bank logo
Member FDIC
Savings Account
4.25
%
APY
APY
Info
As of 5/28/2024
Rating: 4.4 stars out of 5
Info
$1
Min balance for APY
Promoted offer:

Bank fees

Fee Charged?
Overdraft fee None
Non-sufficient funds fee None
Monthly maintenance fee None
Out-of-network ATM fee None
Excessive transaction fee None

About BankPurely

BankPurely, a division of Flushing Bank, is a financial institution created for environmentally conscious consumers. The bank has no branches, helping to reduce its carbon footprint, and uses paperless bill pay and e-statements. BankPurely even says it will plant a tree for every account opened.

Customer experience

Customer service.  Customer service representatives are available 24/7.

Digital experience. The bank offers online banking as well as a mobile app for iOS and Android devices, though reviews on either version of the app are scant. Customers can deposit checks through the app.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.